USD/CHF forex technical analysis round-up: Dec. 28

NEW YORK (Forex News Now) – The dollar took a pounding against the swissy today, trading at 0.9520 as of around 8:50 A.M., GMT.

The dollar is down 0.84% on the day and has reached a session high of 0.9608 with a low of 0.9502 so far.

This is what some of the analysts say about the currency pair in the near-term:

Forexcycle writes that USD/CHF is forming a cycle bottom at 0.9497 level on 4-hour chart.

“Key resistance is now at 0.9663, a break above this level will confirm the cycle bottom, then further rally towards 0.9733 resistance could be seen. However, the pair stays in a falling price channel, as long as 0.9663 resistance holds, one more fall towards 0.9463 (Oct 14 low) support is still possible,” it adds in intraday analysis.

4xEagleEye Analysis Team adds in its USD/CHF analysis that the currency pair will decline.

“A break above (0.9657) could be a threat to the bearish scenario targeting (0.9747) even (0.9777). On the downside, immediate support is at (0.9552). Break below that area should keep the major bearish scenario intact testing (0.9459) area,” the realtime forex news site writes.